You are here

Symantec exploring breakup of company: Bloomberg

[SAN FRANCISCO] Security software maker Symantec Corp is in advanced talks to split its business into two entities - one that sells security programs and another that does data storage, Bloomberg reported, citing people with knowledge of the matter.

An announcement may be a few weeks away, Bloomberg said.

Reuters reported in April that Symantec was in the process of hiring banks to help advise on strategy and defend against possible activist investors.

Symantec spokeswoman Kristen Batch said in an email the company does not comment on rumors. - Reuters

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes